Project Plan Overview

6 Pages 1595 Words

Friar Tucker International (FTI) is a hospitality services chain that manages 35 entertainment and cuisine establishments. The company employs approximately 1,200 individuals and generates revenue in excess of $300 million. The vision for FTI is “to be among the top ten hospitality service providers in the family entertainment business, based on our superior service levels and innovative marketing”. The corresponding mission is “to attract more visitors and customers through food and entertainment facilities, and ensure a great family experience.”
The key focus areas for FTI over next three years are as follows:
· Establish their presence in the entertainment hospitality segment
· Consolidate their presence in the cuisine business by expanding into specialty cuisine establishments
· Expand into the corporate entertainment segment
Under the leadership of the new CEO, FTI has entered into agreements with several hotel chains to manage their businesses and execute diverse projects for them. The results have been phenomenal – business is booming. FTI was convinced by its clients to accept some projects such as the two hotel chains for which they do subcontracted work – projects that do not directly link with the company’s strategic objectives. The goal of project manager is to select one project out five that will be best suitable for FTI.
Project 1: Kalimpong
Kalimpong entails setting up a chain of 10 specialty franchises on the East Coast. Each restaurant would be the last word in luxury and fine cuisine. FTI would need to design and set up the oriental specialty cuisine restaurants with Thai, Vietnamese, and Chinese sections. With an initial investment of just $9 million, company can expect to break even in less than five years, and by year 10, and their revenues can be as high as $20 million a year. This is an excellent opportunity to expand FTI’s cuisine business.
Project 2: Friar’s Nest
There is a hist...